A letter of explanation should tell the lender why an event happened and describe steps you’ve taken to solve or recover from the issue, if applicable. Not every borrower needs to write a letter ...

Your lender might also ask for an explanation if you hold a joint account with someone else but are applying for a mortgage in your name only. You should also be prepared to write a letter to ...

If your credit report has any negative history, or if there is something in your mortgage application that requires more information, a lender may ask you to submit a "letter of explanation." ...

Not every borrower needs to write a letter of explanation. If you do, your lender will request one. When you apply for a mortgage, you’ll need to hand over plenty of documentation: your bank ...

Writing a letter of explanation shouldn’t take very long. However, make sure you include all relevant details your lender might need. Here's a rundown of what you should include in an LOE ...